I have been employed as a virtual loan officer by sunnymtg.com866-768-cash,llc since 11/2007.
I live in Michigan, and originated and closed all loans for the company in Michigan. Even though they were very difficult to deal with, I manged, and I was paid on all the loans I originated and closed for the first year.
Michigan does not require loan officers to have a license.
The regulations became aware to me that on January 1st, 2009 all Michigan loan officers would need to be licenced. I received that notice by email from the company on December 15th, 2008.
I emailed back explaining I would have to resign becuase I did not have the money that sunny mtg was asking for to give us classes, and get us licensed. I received a call that morning from corporate telling me if I took the class I could still close loans, and take my first check to be licensed. I told them I was pretty tired of the loan industry by then, and the difficulty of the last loan I closed had really soured me to the industry, so I was going to seek a new carreer.
I recieved 2 more calls from corporate that day, one asking that I or someone I know take the test pretending to be someone else from the corporate office, so they could be licensed. I refused. I told them I prefer to do everything above board.
The second call was from the same managing partner asking me again to take the test in someone elses name, and they would pay for my license, I refused.
I recieved two emails at christmas time telling me that the date for registration for loan officers had been changed to April 1st 2009, and I had time to submit and close loans befor that, and I could pay for my license at that time. I thought about it and I submitted 4 loans to their processing department on 12/30/2008.
In January the market became difficult, lenders froze funding, and I couldnt get the loans closed as quickly as I had hoped.
I applied for unemployment hoping that would take the stress out of daily expenses. I was told that sunny mortgage had not reported my income, and there wasnt enough monies reported to collect unemployment. So even though I made $60,000 the past year, I couldnt collect.
I decided to try and close those four loans and get the money I needed to substain myself and my family.
It took until the last week in February to get a loan closed and the others closed the next week. befor the last one closed I spoke to corporate to clarify the dead line to close loans without licnese, I couldnt remember if it was March 1st or March 31st. Again they confirmed it was March 31st.
They asked me why I filed unemployment against the company, saying I was wrong for trying to hurt the company. I told them it wasnt personal, I just needed to feed my family, and that I wasnt granted unemployment becuase they hadnt paid into it anyway. After a heated exchange, I told them that after my loans cleared and was paid I would not being doing business with their company again.
I closed all loans and expected to be paid on March 6th, 2009 I have not been paid for any of them. They are telling me they wont pay me becuase I dont have a license. (even tho Michigan doesnt require one and I have closed a minimum of 20 loans without one with sunny mtg)
They set me up to submit the loans, so they would not have to pay me for them. They dont have a reason other than being upset that I filed unemployment.
They owe me over $7,200....And they wont answer my calls emails or faxs.
I flew to florida on March 12th, and requested to speak with Sunny Gaddh the owner, and he would not see me.
To date I have not been paid.
I went on the internet and googled sunny gaddh, and found out that there are countless other loan officers that havent been paid.
I found out so many things in this short time, and I will pursue my monies in court. I advise all loan officers to stay away from Sunny MTG, And also Sunny mortgage lending and any other intities that Sumit Gaddh owns.
benton Harbor, Michigan